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Balance of Payments - June 2025

ekonomi.isbank Macro Notes Balance of Payments Balance of Payments - June 2025

The current account deficit was 2 billion USD in June.

The current account balance posted a deficit of 2 billion USD in June, exceeding market expectations. Market expectations were around 1.38 billion USD. In the January-June period, the current deficit increased by 60.8% yoy to 23 billion USD, while the 12-month cumulative current account deficit reached 19 billion USD, the highest level in one year.

The foreign trade deficit increased by 23.1% yoy in the first half of the year. The foreign trade deficit, as defined by the balance of payments methodology, increased by 56.6% yoy in June to 6.5 billion USD. During this period, the general merchandise trade balance increased by 57.4%, while net non-monetary gold imports increased by 53.1%. The current account deficit excluding net gold trade was 582 million in June. During this period, net energy imports decreased by 1.3% yoy to 3.2 billion USD, while the current account balance excluding net energy and gold trade recorded a surplus of 2.58 billion USD.

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